Usdcad news

Here are some recent news and updates related to the USDCAD currency pair:

Current Market Situation:

• The USDCAD is currently trading at around 1.3200, with a slight upward trend.
• The pair has been influenced by the recent decline in oil prices, which has weighed on the Canadian dollar.
• The US dollar has been supported by the Federal Reserve's hawkish stance on interest rates, which has led to a rise in the US dollar index.

Recent News and Events:

• US GDP Growth: The US economy grew at an annualized rate of 2.1% in the fourth quarter of 2022, according to the Bureau of Economic Analysis. This was slightly below expectations, but still indicates a moderate pace of growth.
• Canadian GDP Growth: Canada's economy grew at an annualized rate of 2.8% in the fourth quarter of 2022, according to Statistics Canada. This was slightly above expectations and indicates a strong pace of growth.
• US Inflation: The US Consumer Price Index (CPI) rose 0.5% in January, according to the Bureau of Labor Statistics. This was slightly above expectations and indicates that inflation remains a concern for the Federal Reserve.
• Bank of Canada Interest Rates: The Bank of Canada left interest rates unchanged at its latest policy meeting, but hinted that it may raise rates in the future to combat inflation.
• US-China Trade Talks: The US and China have made progress in their trade talks, with the US agreeing to delay some tariffs in exchange for China's commitments to increase purchases of US goods.

Technical Analysis:

• The USDCAD is currently trading above its 50-day and 200-day moving averages, indicating a bullish trend.
• The pair has broken out above a descending trend line, which could indicate a further rise in the coming days.
• The RSI is currently above 50, indicating that the pair is overbought and may be due for a correction.

Economic Calendar:

• US: GDP, PCE Price Index, Initial Jobless Claims
• Canada: GDP, CPI, Retail Sales

Key Levels:

• Resistance: 1.3300, 1.3400
• Support: 1.3100, 1.3000

Please note that this is not a comprehensive list of all news and events related to the USDCAD currency pair. It is intended to provide a general overview of the current market situation and key events that may impact the pair.